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FinancialNews
29-03-23
Qatar Ranks Sixth Globally in Trade Surplus in 2022
(MENAFN) Qatar has been ranked sixth globally in terms of trade surplus in 2022, up five spots from the previous year, with a surplus of USD97.5 billion. This news comes from a report by the Russian news agency, RIA Novosti. Germany, which had a surplus of USD85.34 billion, dropped to seventh place globally, 2.5 times lower than its 2021 results.
The report, titled "China and Russia Become World Leaders in Trade Surpluses," highlights that China and Russia have become the world leaders in terms of trade surplus in 2022, breaking their records for that indicator. According to the study by RIA Novosti, China's trade surplus rose by 30 percent and reached its peak point in the entire history of observations, totaling USD877.6 billion. Russia increased its surplus by 1.7 times to a record USD333.4 billion, allowing it to rise to second place among the largest economies in the world. Saudi Arabia came third ahead of Norway and Australia.
The study was based on data from the national statistical services of the 60 largest economies in the world from January to December 2022. The final sample includes economies that, as of mid-March, disclosed data for 2022 and received a trade surplus.
Qatar's rise in the rankings is a testament to its strong economy and effective trade policies. The country has been able to maintain a healthy trade surplus, which is essential for economic growth and stability. The surplus allows the country to invest in infrastructure, education, and other sectors that contribute to its long-term development goals.
In recent years, Qatar has focused on diversifying its economy and reducing its dependence on oil and gas. The country has invested heavily in sectors such as tourism, finance, and technology, which have the potential to drive economic growth and create new opportunities for its people.
Qatar's success in the trade surplus rankings is a reflection of its commitment to sustainable economic development and its ability to adapt to changing global trends. As the country continues to invest in its future, it is likely to maintain its position as a global leader in trade surplus and other key economic indicators.
MENAFN29032023000045014228ID1105890478
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